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A.O.史密斯（AOS）与CF Industries（CF）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是A.O.史密斯的2.0倍（$1.9B vs $945.6M），CF Industries净利率更高（26.4% vs 12.5%，领先14.0%），CF Industries同比增速更快（22.8% vs -2.0%），CF Industries自由现金流更多（$313.0M vs $118.9M），过去两年CF Industries的营收复合增速更高（12.8% vs -3.9%）
A.O.史密斯是美国知名的家用及商用热水器、锅炉生产商，也是北美规模最大的热水器制造销售商，在亚洲市场还供应水处理和净化产品。公司在全球共有27个站点，包括北美5座生产基地，以及位于印度班加罗尔、中国南京、荷兰费尔德霍芬的工厂。
CF Industries Holdings Inc.是美国知名农用肥料生产及分销商，1946年成立时名为中央农民肥料公司，总部位于芝加哥郊区的伊利诺伊州诺斯布鲁克。公司主营氨、尿素、硝酸铵等肥料产品，最初为区域农业供应合作社联盟，成立56年后完成股份化改制，转为公开上市企业。
AOS vs CF — 直观对比
营收规模更大
CF
是对方的2.0倍
$945.6M
营收增速更快
CF
高出24.8%
-2.0%
净利率更高
CF
高出14.0%
12.5%
自由现金流更多
CF
多$194.1M
$118.9M
两年增速更快
CF
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $1.9B |
| 净利润 | $118.0M | $495.0M |
| 毛利率 | 38.7% | 40.9% |
| 营业利润率 | — | 33.0% |
| 净利率 | 12.5% | 26.4% |
| 营收同比 | -2.0% | 22.8% |
| 净利润同比 | -14.0% | 26.3% |
| 每股收益（稀释后） | $0.85 | $2.56 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AOSCF
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $1.9B | ||
| Q3 25 | $942.5M | $1.7B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $963.9M | $1.7B | ||
| Q4 24 | $912.4M | $1.5B | ||
| Q3 24 | $902.6M | $1.4B | ||
| Q2 24 | $1.0B | $1.6B |
净利润AOSCF
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $495.0M | ||
| Q3 25 | $132.0M | $460.0M | ||
| Q2 25 | $152.2M | $492.0M | ||
| Q1 25 | $136.6M | $351.0M | ||
| Q4 24 | $109.7M | $392.0M | ||
| Q3 24 | $120.1M | $341.0M | ||
| Q2 24 | $156.2M | $506.0M |
毛利率AOSCF
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 40.9% | ||
| Q3 25 | 38.7% | 38.1% | ||
| Q2 25 | 39.3% | 39.9% | ||
| Q1 25 | 38.9% | 34.4% | ||
| Q4 24 | 37.1% | 34.4% | ||
| Q3 24 | 37.4% | 32.4% | ||
| Q2 24 | 38.7% | 43.2% |
营业利润率AOSCF
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 33.0% | ||
| Q3 25 | 18.6% | 35.0% | ||
| Q2 25 | 20.4% | 34.3% | ||
| Q1 25 | 19.1% | 27.4% | ||
| Q4 24 | 10.1% | 28.9% | ||
| Q3 24 | 19.5% | 26.6% | ||
| Q2 24 | 21.9% | 40.6% |
净利率AOSCF
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 26.4% | ||
| Q3 25 | 14.0% | 27.7% | ||
| Q2 25 | 15.0% | 26.0% | ||
| Q1 25 | 14.2% | 21.1% | ||
| Q4 24 | 12.0% | 25.7% | ||
| Q3 24 | 13.3% | 24.9% | ||
| Q2 24 | 15.2% | 32.2% |
每股收益（稀释后）AOSCF
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $2.56 | ||
| Q3 25 | $0.94 | $2.19 | ||
| Q2 25 | $1.07 | $2.37 | ||
| Q1 25 | $0.95 | $1.85 | ||
| Q4 24 | $0.75 | $1.86 | ||
| Q3 24 | $0.82 | $1.55 | ||
| Q2 24 | $1.06 | $2.30 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $185.2M | — |
| 总债务越低越好 | $574.2M | $3.2B |
| 股东权益账面价值 | $1.9B | $4.8B |
| 总资产 | $3.7B | $14.1B |
| 负债/权益比越低杠杆越低 | 0.31× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资AOSCF
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | — | ||
| Q3 25 | $172.8M | — | ||
| Q2 25 | $177.9M | — | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $276.1M | — | ||
| Q3 24 | $255.6M | — | ||
| Q2 24 | $233.3M | — |
总债务AOSCF
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | $3.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $193.2M | $3.0B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B |
股东权益AOSCF
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $4.8B | ||
| Q3 25 | $1.8B | $4.8B | ||
| Q2 25 | $1.8B | $5.0B | ||
| Q1 25 | $1.9B | $4.8B | ||
| Q4 24 | $1.9B | $5.0B | ||
| Q3 24 | $1.9B | $5.2B | ||
| Q2 24 | $1.9B | $5.5B |
总资产AOSCF
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $14.1B | ||
| Q3 25 | $3.2B | $14.2B | ||
| Q2 25 | $3.2B | $13.8B | ||
| Q1 25 | $3.3B | $13.3B | ||
| Q4 24 | $3.2B | $13.5B | ||
| Q3 24 | $3.2B | $13.8B | ||
| Q2 24 | $3.2B | $13.8B |
负债/权益比AOSCF
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | 0.66× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | 0.10× | 0.60× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.54× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $539.0M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $313.0M |
| 自由现金流率自由现金流/营收 | 12.6% | 16.7% |
| 资本支出强度资本支出/营收 | 1.1% | 12.1% |
| 现金转化率经营现金流/净利润 | — | 1.09× |
| 过去12个月自由现金流最近4个季度 | $647.5M | $1.8B |
8季度趋势，按日历期对齐
经营现金流AOSCF
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $539.0M | ||
| Q3 25 | $255.4M | $1.1B | ||
| Q2 25 | $139.6M | $563.0M | ||
| Q1 25 | $38.7M | $586.0M | ||
| Q4 24 | $221.9M | $420.0M | ||
| Q3 24 | $195.9M | $931.0M | ||
| Q2 24 | $57.4M | $475.0M |
自由现金流AOSCF
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $313.0M | ||
| Q3 25 | $240.6M | $717.0M | ||
| Q2 25 | $122.5M | $318.0M | ||
| Q1 25 | $17.4M | $454.0M | ||
| Q4 24 | $191.3M | $223.0M | ||
| Q3 24 | $163.4M | $792.0M | ||
| Q2 24 | $34.5M | $391.0M |
自由现金流率AOSCF
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 16.7% | ||
| Q3 25 | 25.5% | 43.2% | ||
| Q2 25 | 12.1% | 16.8% | ||
| Q1 25 | 1.8% | 27.3% | ||
| Q4 24 | 21.0% | 14.6% | ||
| Q3 24 | 18.1% | 57.8% | ||
| Q2 24 | 3.4% | 24.9% |
资本支出强度AOSCF
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 12.1% | ||
| Q3 25 | 1.6% | 20.9% | ||
| Q2 25 | 1.7% | 13.0% | ||
| Q1 25 | 2.2% | 7.9% | ||
| Q4 24 | 3.4% | 12.9% | ||
| Q3 24 | 3.6% | 10.1% | ||
| Q2 24 | 2.2% | 5.3% |
现金转化率AOSCF
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 1.09× | ||
| Q3 25 | 1.93× | 2.31× | ||
| Q2 25 | 0.92× | 1.14× | ||
| Q1 25 | 0.28× | 1.67× | ||
| Q4 24 | 2.02× | 1.07× | ||
| Q3 24 | 1.63× | 2.73× | ||
| Q2 24 | 0.37× | 0.94× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AOS
暂无分部数据
CF
| Ammonia | $591.0M | 32% |
| UAN | $493.0M | 26% |
| Urea | $372.0M | 20% |
| Other | $244.0M | 13% |
| Other Products | $147.0M | 8% |
| Ammonium Nitrate Segment | $25.0M | 1% |
